Electroindustry Business Conditions Index

​The EBCI indexes are based on the results of a monthly survey of senior managers at NEMA member companies and are designed to provide a measure of changes in the business environment facing electrical equipment manufacturers.

April 2018

Current conditions facing the electroindusty held steady in April at an
index value of 6 0.7, matching last month's reading exactly. The share of
respondents reporting better conditions increased somewhat, but so did the
share of those indicating worse conditions. Recent Census Bureau data point to a
slight decline in the value of shipments in the broad electrical equipment
sector even as orders activity ticked up, a situation touched upon in one
respondent’s comment. ​EBCI results 20180430nm.pdf

March 2018

​Although the year has started more slowly than some of the panel would
prefer, there were no complaints about the current conditions facing the
electroindustry this month—literally no complaints. With not even a single
response indicating worse conditions, the current conditions component ticked
down imperceptibly from 61.8 to 60.7 as most panel members noted unchanged
conditions. Census Bureau reporting on electroindustry shipments shows some
improvement so far this quarter, which lends support to the expansionary level
of current conditions suggested by the survey results. EBCI results 20180328nm.pdf

February 2018

Some EBCI panel members noted softer conditions in February relative to
the strength of recent months. The share of those reporting worse conditions
this month increased while the proportion of “better” responses declined,
lending quantitative support to the anecdotal information. Despite sliding
nearly 10 points to 61.8, February’s current conditions component remained
firmly in expansionary territory. The most recent U.S. Census Bureau data
depicted a similar mixed for last December when year over year electroindustry
shipments grew by almost 4 percent while new orders ticked down slightly. ​EBCI results 20180228nm.pdf

January 2018

The current conditions component of the electroindustry business
confidence index moved up from 66.7 in December to 71.4 this month. Fully
one-half of the survey panel noted better conditions in January as the share of
those indicating an unchanged business environment declined. Although the
proportion of respondents reporting worse conditions edged up, one such
member’s comment made it clear that January was worse only because the previous
month was “amazing.” The expansionary reading of current conditions in January
marked the 16th consecutive month this component topped 50, making it the
longest such stretch since before the last recession. It is worth nothing that
this upbeat sentiment has yet to materialize in hard data for some segments of
the electroindustry such as lighting and manufacturing-related equipment, which
have experienced declining shipment numbers reported by the U.S. Census Bureau
on a year-over-year basis for most of 2017.​ EBCI results 20180131nm.pdf